United Bank Buys 1,216 Shares of General Dynamics Co. (NYSE:GD)

United Bank raised its position in shares of General Dynamics Co. (NYSE:GD) by 21.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,992 shares of the aerospace company’s stock after purchasing an additional 1,216 shares during the period. United Bank’s holdings in General Dynamics were worth $1,842,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Financial Life Planners bought a new position in General Dynamics in the fourth quarter valued at about $25,000. Whipplewood Advisors LLC bought a new position in General Dynamics during the 4th quarter worth $26,000. Kohmann Bosshard Financial Services LLC acquired a new position in General Dynamics during the 4th quarter worth about $26,000. Sugar Maple Asset Management LLC bought a new stake in shares of General Dynamics in the 4th quarter valued at about $28,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of General Dynamics in the fourth quarter valued at about $28,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on GD shares. TD Cowen reduced their target price on General Dynamics from $315.00 to $295.00 in a report on Tuesday, January 28th. The Goldman Sachs Group dropped their price objective on General Dynamics from $245.00 to $241.00 and set a “sell” rating on the stock in a research note on Tuesday, January 28th. Barclays lowered their target price on General Dynamics from $305.00 to $285.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. BTIG Research downgraded shares of General Dynamics from a “buy” rating to a “neutral” rating in a research report on Thursday, February 13th. Finally, Wells Fargo & Company boosted their target price on shares of General Dynamics from $244.00 to $261.00 and gave the company an “equal weight” rating in a research report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, General Dynamics presently has an average rating of “Hold” and an average price target of $297.71.

General Dynamics Price Performance

GD opened at $268.99 on Friday. The company has a market capitalization of $72.72 billion, a price-to-earnings ratio of 19.72, a PEG ratio of 1.69 and a beta of 0.59. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. The firm has a 50-day moving average price of $258.73 and a 200-day moving average price of $276.76. General Dynamics Co. has a twelve month low of $239.87 and a twelve month high of $316.90.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.14). General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. Equities analysts expect that General Dynamics Co. will post 14.83 EPS for the current year.

General Dynamics Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 11th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.00 annualized dividend and a dividend yield of 2.23%. This is a boost from General Dynamics’s previous quarterly dividend of $1.42. General Dynamics’s dividend payout ratio is presently 43.99%.

General Dynamics announced that its board has initiated a stock buyback program on Wednesday, December 4th that allows the company to repurchase 10,000,000 outstanding shares. This repurchase authorization allows the aerospace company to purchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at General Dynamics

In related news, SVP Marguerite Amy Gilliland sold 27,562 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $272.11, for a total transaction of $7,499,895.82. Following the transaction, the senior vice president now directly owns 45,192 shares of the company’s stock, valued at approximately $12,297,195.12. This trade represents a 37.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Laura J. Schumacher sold 1,796 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $255.68, for a total transaction of $459,201.28. Following the completion of the sale, the director now owns 11,175 shares of the company’s stock, valued at approximately $2,857,224. The trade was a 13.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.52% of the stock is owned by corporate insiders.

General Dynamics Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.